Press Esc to close
Sunday 25 June 2017
News updated at 10:49 PM IST

HDFC Bank net up 18.3% to Rs 3,990 cr

DH News Service, Mumbai, Apr 21 2017, 22:57 IST
The bank had provisions of Rs 662.5 crore in the same quarter previous fiscal. This included specific loan loss provisions of Rs 490.3 crore, general provisions of Rs 161.1 crore and other provisions of Rs 11.1  crore. DH File Photo

The bank had provisions of Rs 662.5 crore in the same quarter previous fiscal. This included specific loan loss provisions of Rs 490.3 crore, general provisions of Rs 161.1 crore and other provisions of Rs 11.1 crore. DH File Photo

HDFC Bank reported a 18.3% increase in standalone net profit for the quarter ended March 31, 2017, at Rs 3,990.1 crore compared with Rs 3,374 crore in the same quarter previous fiscal.

Provisions and contingencies for the quarter ended March 31, 2017 were Rs 1,261.8 crore. This includes specific loan loss provisions of Rs 977.9 crore, general provisions of Rs 280.3 crore and other provisions of Rs 3.6 crore.

The bank had provisions of Rs 662.5 crore in the same quarter previous fiscal. This included specific loan loss provisions of Rs 490.3 crore, general provisions of Rs 161.1 crore and other provisions of Rs 11.1 crore.

The specific loan loss provisions for the quarter ended March 31, 2017 include provisions on accounts that would have turned non-performing assets (NPAs) during the quarter ended December 31, 2016, but were classified as NPAs during the quarter ended March 31, 2017, in line with the additional 60/90 day dispensation provided by the Reserve Bank of India vide its circulars dated November 21, 2016 and December 28, 2016, the bank said.

Meanwhile, for the second quarter in a row, there was a massive drop in HDFC Bank’s headcount that came down by over 6,000 to 84,325 owing to increased digitalisation in the March quarter and it expects the trend to continue.

Shares of the bank on Friday rose by over 2%, adding Rs 8,918 crore to its market valuation, after the company reported an 18.2% growth in net profit for the March quarter.

The stock gained 2.38% to end at Rs 1,496.75 on the BSE. During the day, it rose by 2.60% to Rs 1,500, its 52-week high level.

Go to Top

Photo Gallery
Prime Minister Narendra Modi being welcomed, on his arrival at Joint Base Andrews, Washington...

Prime Minister Narendra Modi being welcomed, on his arrival at Joint Base Andrews, Washington...

Senior CRPF and police officers carrying the coffin of SI/GD Sahab Shukla after wreath laying...

Senior CRPF and police officers carrying the coffin of SI/GD Sahab Shukla after wreath laying...

Senior BJP MLA Ghanshyam Tiwari stages 'satyagraha' against Rajasthan Chief Minister Vasundhara...

Senior BJP MLA Ghanshyam Tiwari stages 'satyagraha' against Rajasthan Chief Minister Vasundhara...

Hindu devotees pull the 'Rath' or the chariot of Lord Jagannath, during the annual Rath Yatra, or...

Hindu devotees pull the 'Rath' or the chariot of Lord Jagannath, during the annual Rath Yatra, or...

Acclaimed Odissi dancer Dona Ganguly's troupe performs during 46th ISKCON Rath Yatra of Lord...

Acclaimed Odissi dancer Dona Ganguly's troupe performs during 46th ISKCON Rath Yatra of Lord...

Switzerland's Roger Federer celebrates his victory in the final match against Germany's Alexander...

Switzerland's Roger Federer celebrates his victory in the final match against Germany's Alexander...

French Air Force Patrouille de France air demonstration teams take part in flying display during...

French Air Force Patrouille de France air demonstration teams take part in flying display during...

Penitents and costaleros of the Nuestro Padre Jesus Nazareno brotherhood carry a float bearing...

Penitents and costaleros of the Nuestro Padre Jesus Nazareno brotherhood carry a float bearing...

Over 10,000 Chinese yoga enthusiasts in Wuxi, a city near Shanghai in eastern China, took part in...

Over 10,000 Chinese yoga enthusiasts in Wuxi, a city near Shanghai in eastern China, took part in...

A student band dressed as Star Wars storm troopers hold their instruments during the walk...

A student band dressed as Star Wars storm troopers hold their instruments during the walk...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.